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vladimir2022 [97]
2 years ago
6

When reviewing a business communication, it is best to seek feedback from Multiple select question. random strangers, asking the

m for honest answers. business competitors. people who have demonstrated good judgment. respected colleagues.
Business
1 answer:
OLga [1]2 years ago
6 0
Yes. This is correct.
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Concepts for Analysis 24-3 (Essay) Presented below are three independent situations.
Helga [31]

Answer:1. Make provision for warranty claims.

2. Disclosure of contingent liability

3. No cost should be recorded.

Explanation:

Warranty is an assurance made by firms to make good any agreed loss that is incurred by the customers in usage of goods and services whiting the period of the warranty. Since an estimation can be made based on firms history of sales a provision has to be made for possible warranty.

Since it's only probably that a loss will be Incurred by the firm by going into the contract and the financial statement has not been issue the firm should made a contingent liability disclosure in the report.

The self insurance is not a contract with a third party, in this vein no cost will be accrued until the loss is actually suffered.

6 0
3 years ago
Superior has provided the following information for its recent year of operation: The common stock account balance at the beginn
yKpoI14uk [10]

Answer: $22000

Explanation:

The amount of Superior's dividend declarations during its recent year of operation will be calculated thus:

Ending retained earnings ($91000) = Beginning retained earnings ($75000) + Net income ($38000) - Dividend declared

$91000 = $113000 - Dividend declared

Dividend declared = $113000 - $91000

Dividend declared = $22000

Therefore, Superior's dividend declarations during its recent year of operation is $22000

7 0
2 years ago
Explain the most well-known service provided by insurance companies. *
earnstyle [38]

Answer:

Car insurance

Explanation:

Everybody drives a car.

6 0
2 years ago
A mutual fund in which shares are issued only when the fund is organized is called a(n) __________ fund.
nadezda [96]
The answer is closed-end.
7 0
3 years ago
Swifty Corporation had 197000 shares of common stock, 19200 shares of convertible preferred stock, and $1503000 of 4% convertibl
kicyunya [14]

Answer:

d. $2.18

Explanation:

The answer with detailed working is attached.

Download xlsx
8 0
3 years ago
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